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I would recommend this book to those fairly new to the game of trading as it does a good job of outlining the need to have a straightforward, planned, and unbiased approach to trading the stock market.  Published in 1988 the book was written just after the September 1987 equities crash, and at a time when technical analysis and the use of computers for this analysis as we know it today was in its infancy.  Weinstein’s writing style is very positive, energetic, and uncomplicated.  While this makes the book easy to read and accessible,  it also may mislead the novice trader and lull them into a false sense of security that trading is easy.  The book is USA-centric (a new word?) and pertains specifically to trading the US markets.  Some of the macro-level indicators such as the Advance Decline Line and New Highs/New Lows Index may apply differently to Australian markets both in terms of its use as a signal and in terms of the availability of data.  His tactics make use of Relative Strength Comparative indicators, but he labels them the Relative Strength Index, so those who are new to these indicators should be careful to understand the distinction.  Over time markets change and traders must adapt their methods to remain profitable.  I question whether this ‘tried and true’ method of Weinstein’s would work quite as well in today’s more volatile trading conditions.  Still, its a good read for beginners.

Colin Miller 2010




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